What is stamp duty?
Stamp duty (officially “transfer duty” or “land transfer duty” in most states) is a tax levied by state and territory governments on the purchase of property. It's paid by the buyer — typically at settlement — and is one of the largest upfront costs beyond the deposit itself.
Rates are progressive (like income tax brackets): higher property values attract higher marginal rates. Most states also offer concessions or full exemptions for first home buyers below a price threshold.
First home buyer concessions by state (2025–26)
| State | Full exemption | Concession to | FHB note |
|---|---|---|---|
| NSW | ≤ $800k | $1m | Any property type |
| VIC | ≤ $600k | $750k | Any property type |
| QLD | ≤ $700k (est.) | $800k | New builds: no cap |
| WA | ≤ $500k | $700k | Any property type |
| SA | New builds | — | No cap; established: no exemption |
| TAS | ≤ $750k | — | Established homes (expires Jun 2026) |
| ACT | ≤ $1.02m | — | Income limits apply |
| NT | None | — | $50k grant for new builds |
Stamp duty on a $700,000 property by state
| State | Standard duty | FHB duty | FHB saving |
|---|---|---|---|
| NSW | $26,235 | $0 | $26,235 (exempt ≤ $800k) |
| VIC | $31,370 | $20,913 | Concession applies |
| QLD | $24,525 | $0 | $24,525 (exempt ≤ $700k) |
| WA | $27,265 | $13,633 | 50% concession at $700k |
| SA | $27,830 | $27,830 | No exemption (established) |
| TAS | $22,498 | $0 | $22,498 (exempt ≤ $750k) |
| ACT | $18,840 | $0 | $18,840 (exempt ≤ $1.02m) |
| NT | ~$32,657 | ~$32,657 | No exemption |
Based on 2025–26 rates. FHB = first home buyer on an established property. NT is approximate (formula-based). Always verify with your state revenue office.